Despite the recent political changes, Syria grapples with severe economic hardship. Years of civil war, international sanctions, and mismanagement have pushed 90% of the population into poverty. This article highlights the struggles of ordinary Syrians, like Samir al-Baghdad, who are rebuilding their homes and lives with limited resources while facing skyrocketing rent and a lack of economic opportunities.
DAMASCUS, Syria—Samir al-Baghdad grabbed his pickax and walked up a wobbly set of stairs made of cinderblocks and rubble.
“Economic opportunities are basically nonexistent,” al-Baghdadi said, sitting on a pile of rubble and debris where the house’s entrance used to be. “So we’re going to slowly rebuild with our own hands.” Qaboun, just a stone’s throw away from the city center, and other eastern Damascus neighborhoods became rebel strongholds in 2012, when the country’s mass protests against Assad spiraled into all-out war.
The United Nations in 2017 estimated that it would cost at least $250 billion to rebuild Syria. Some experts now say that number could reach at least $400 billion. While countries are hesitant to make more impactful decisions as they hope for a peaceful political transition, many Syrians say the economy can’t wait.
In the Syrian capital’s bustling old marketplace, crowds of people pack the narrow passageways as the country’s new de facto flag is draped over the crowded stalls. Merchants say the atmosphere is pleasant and celebratory, but nobody is buying anything.
SYRIA ECONOMY CIVIL WAR SANCTIONS POVERTY
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Israeli Forces Detain Hospital Director Amidst WHO Claim of Out-of-Service FacilityIsraeli forces detained the director of a hospital in northern Gaza, which the World Health Organization (WHO) said was rendered out of service after an Israeli military operation. Palestinian authorities accused Israel of destroying medical and humanitarian infrastructure in the north, while Hamas denied any presence of militants in the hospital.
Read more »
South Korean Lawmakers Impeach Acting President Amidst Political TurmoilSouth Korean Parliament impeached Acting President Han Duck-soo, following a turbulent period triggered by his predecessor's controversial martial law declaration.
Read more »
Filipinos Welcome New Year with Hope Amidst FearsA Social Weather Stations survey reveals that 90% of Filipinos are hopeful for the new year, but 10% express fear, marking a 15-year high.
Read more »
German President Dissolves Parliament, Sets Election Date Amidst Political and Security ChallengesGerman President Frank-Walter Steinmeier has dissolved parliament and set the election date for February 23rd, following the collapse of Olaf Scholz's government. The move comes amidst intense debates surrounding the country's economy, security, and immigration.
Read more »
Philippines Shifts Trade Focus to Asia Amidst Possible Loss of Trade PerksThe Philippines is re-evaluating its trade strategies and prioritizing the Asian region due to potential losses of preferential trade benefits. The Philippine Economic Zone Authority (PEZA) aims to increase intra-ASEAN trade and investments as the country may no longer qualify for the EU's GSP+ and the UK's Developing Country Trading Scheme. This shift is driven by the Philippines' potential to achieve upper middle-income country status, which could disqualify it from these trade privileges.
Read more »
Philippine Stock Market Outlook for 2025: Cautious Optimism Amidst Global HeadwindsAnalysts predict a mixed start to the year for the Philippine Stock Market, influenced by investor sentiment and global economic challenges. While rate cut expectations and a strong finish to 2024 provide some optimism, risks such as inflation, China's economic slowdown, and a stronger US dollar could temper growth.
Read more »